The downturn in the world economy is resulting in large companies downsizing and retrenching and this is creating a number of unnatural entrepreneurs.
An unnatural entrepreneur is someone who through lack of encouragement when growing up and lack of self confidence has never considered backing him or herself to go into his or her own business.
Circumstances have now forced him/her to review the situation and go into business as the only alternative to earn an income.
Being a semi-entrepreneur, these people often prefer to purchase a tried and tested franchise. This also comes with a warning as marginal franchise offerings are also finding it difficult to give satisfactory returns in the current economy.
Rules for an Unnatural Entrepreneur
- Think positively
- Have confidence in yourself and your ability.
- Be consistently on the lookout for gaps/opportunities.
- Do your homework and make sure you minimise your risk
- Get involved in a business venture that really interests you, but make sure that the market segment is growing and has long term sustainability
As a “rule of thumb” you should aim to recover your initial investment in three years while drawing a market related salary for the period. For example if you invest R1 000 000 in the business, you should recover the investment in three years (e.g. your average monthly profit should be ± R27 000.)
Franchising Plus is considering running a series of workshops to assist unnatural entrepreneurs. Our objective is to assist them to evaluate their options and make the right decision. This is also an opportunity for franchisors to find franchisees that are well-qualified and ready to look for business opportunities.
If you are interested please contact us